FAT Brands to open 175 stores in 2023
FAT (Fresh, Authentic, Tasty) Brands continues its aggressive expansion, opening new locations and adding to its already robust pipeline.
The company, whose brands include Johnny Rockets, Fatburger, Round Table Pizza, Twin Peaks, Fazoli’s and 12 other banners, said it experienced record growth last year, opening 142 new stores in 2022. FAT Brands also added 362 stores to its development pipeline, which spans 29 states and 17 countries.
“This year, we will remain focused on converting our over 1,000-unit pipeline into new stores, approximately 175 of which are set to open in 2023, along with continuing to fuel our long-term growth with additional development deals,” said Taylor Wiederhorn, chief development officer of Fat Brands.
Leading the way in the company’s new store development were its Fatburger and Buffalo’s Express banners, with 86 stores; Fazoli’s with 61; Round Table Pizza with 56; and Twin Peaks with 50.
Noteworthy franchise deals included a combined 80-store development agreement for 40 Fatburger and Buffalo’s Express locations and 40 Round Table Pizza restaurants in the state of Texas, a 32-store agreement for Twin Peaks in Mexico, and a 10-store agreement for Johnny Rockets in Israel.
Other strategic deals included 10 Marble Slab Creamery locations in Egypt and a nine-store development deal for Fazoli’s in Phoenix, AZ. FAT Brand’s aggressive development activity will also bring Fatburger to Florida, Puerto Rico and Atlanta. In addition, Fazoli’s will enter into Louisiana and Dallas, and Twin Peaks will expand its presence in Chicago.
“We are extremely proud of our organic growth and the performance of our team in 2022,” said Wiederhorn. “Franchisee interest was at an all-time high from both new and existing franchisees, which speaks volumes to our robust portfolio of brands that continue to deliver strong same-store sales and attract new fans around the globe.
FAT Brands franchises and owns more than 2,300 units worldwide. It currently owns 17 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great American Cookies, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses.